The Los Angeles County Department of Economic Opportunity has announced the launch of the Economic Opportunity Grant program for small and microbusinesses
The Los Angeles County Department of Economic Opportunity (DEO) has announced the launch of the first phase of the Economic Opportunity Grant (EOG) program for small and microbusinesses, and non-profit agencies in LA County. EOG will award more than $54 million in federal American Rescue Plan Act (ARPA) funds across 6,800 grants in a phased rollout to regions and organizations adversely affected by COVID-19.
Eligible grantees may be awarded between $2,500 and $25,000 and can access on-demand application assistance, one-on-one online and in-person technical support, and pipelines to other County programs, grants, and contracting opportunities available to support post-pandemic recovery. DEO has partnered with Lendistry and the L.A. Small Business Development Centers (SBDC) to create a central application portal for this grant and future grant opportunities, and to facilitate direct concierge support.
During Phase One, LA County’s smallest and most vulnerable businesses under $50k in annual gross revenue will be able to apply for grants of $2,500, funded by the State. Phase Two, funded by ARPA, will also be available to microbusinesses but will expand to include small businesses and nonprofits with grants ranging between $15,000 or $20,000 per grant for small businesses and $20,000 or $25,000 per grant for nonprofits. Phase Two is expected to launch in February. EOG will run at least through May 2023 or when available funds are expended.
“It is our responsibility to make sure that we recover from the COVID-19 pandemic better and stronger than before,” said Supervisor Lindsey P. Horvath. “By supporting owners and entrepreneurs throughout LA County, the Economic Opportunity Grants Program will promote and strengthen the small business community that makes Los Angeles County so unique.”
Applicants can visit grants.lacounty.gov to apply or to see open and upcoming applications, access live webinars, instructional how-to-apply videos and demos, one-on-one application support and in-person support events across the County. Successful applicants will receive notice within 30 days of submission.
Multi-lingual application assistance and support will be provided by SBDC and partners, and will include the following languages: Arabic, Armenian, Cantonese, Mandarin, Russian, Spanish, Tagalog, Farsi, Hindi, Japanese, Khmer, Korean, Thai, and Vietnamese. Potential applicants can call the EOG Call Center for general inquires and application assistance at (833) 364-7268.
In addition to Economic Opportunity Grant program, small businesses can also connect with DEO’s Office of Small Business to access customized one-on-one business counseling, free legal assistance on topics including commercial tenancy, contract development, intellectual property and more, and specialized webinars, workshops, and trainings to help residents open and grow a business. Contact the Office of Small Business at 844-432-4900 or via email at OSB@opportunity.lacounty.gov.
LA County’s Economic Opportunity Grant program is administered by the newly created Department of Economic Opportunity (DEO), launched in July 2022. DEO helps job seekers, entrepreneurs, small businesses, and residents access life changing opportunities, and is home to Office of Small Business, LA County’s one stop shop dedicated to prospective entrepreneurs and small business owners. Stay connected with DEO! Follow @EconOppLA on Twitter, Facebook, and Instagram, subscribe to our newsletter, or visit opportunity.lacounty.gov to learn about DEO services.
Hosted by Long Beach Community College District, the LA SBDC assists small businesses and entrepreneurs throughout the Los Angeles, Santa Barbara and Ventura counties. SBDC helps businesses: launch, increase sales, obtain capital, streamline operations, recover from disasters, utilize new technologies, expand into new markets, and position for long-term growth. Our team of over 150 small business consultants provide no-cost business consulting and training programs in business operations and management, marketing, financing, business planning and more. The SBDC program is funded in part through a Cooperative Agreement with the U.S. Small Business Administration and the California Governor’s Office of Business and Economic Development. SmallBizLA.org